Midnight's NIGHT token traded near $0.03894 on October 23, marking a retreat of roughly 22% from the $0.05 price level it reached earlier in October. Despite showing small gains at the time of writing, the token remained below four cents.
The pullback has unwound part of a significant rally that began in late September. Between the end of September and early October, NIGHT climbed from around $0.025 to above $0.05—a gain exceeding 100%. However, trading patterns since reaching that peak have shown weakening momentum, with repeated rebound attempts failing to establish sustained support.
Key Price Levels Under Pressure
The four-hour chart revealed a pattern of fading rebounds as October progressed. The latest recovery attempt reached roughly $0.043 before falling below $0.04, a level that has proven difficult to maintain. Buyers recovered this checkpoint briefly, but were unable to hold it.
Between October 11 and October 23, NIGHT declined over 22% from around $0.05 to $0.039. The immediate support to watch sits around the $0.0377–$0.0383 price level, representing the latest session's lows and nearby trading floors. Failure to hold this range would weaken the case for a price floor, potentially opening the door to the $0.035–$0.036 area.
Broader Context
Despite the recent decline, NIGHT remains well above the $0.020–$0.025 range where it traded through much of September, preserving most gains from the earlier rally.
Conditions for Renewed Strength
A sustained recovery would require NIGHT to regain and hold the $0.040–$0.041 price area, where several short-term moving averages currently sit. Moving through this zone would signal buyers defending recently surrendered ground. The next significant test would come around $0.043, where the latest advance stalled. Until NIGHT moves beyond this failed attempt, evidence of a meaningful reversal remains limited.
